MTG completes the sale of its stake in TRACE media group

STOCKHOLM, Sweden — MTG has completed the sale of its 75% shareholding in TRACE PARTNERS S.A.S. (TRACE) to TPG Growth for a total cash consideration of EUR 30 million (approximately SEK 313 million). The transaction values 100% of the business at an equity value of EUR 40 million (approximately SEK 417 million).

The sale will result in a preliminary net capital gain of approximately SEK 58 million (EUR 5,640,135), which will be reported within items affecting comparability (IAC) in MTG’s Q2 2018 financial results.

Trace is an Afro-urban entertainment firm that owns a number of music and entertainment-focused TV channels, as well as radio, online and mobile assets – including the Trace Play streaming service, which it is currently rolling out around the world.

The company is big in Sub-Saharan Africa, France, the Caribbean and the Indian Ocean area, and claims its services are available in 160 countries to more than 200 million viewers and listeners.

Please see here for the original announcement “MTG sells stake in TRACE media group”.